You can deposit your savings at the Darlington National Bank, which offers to pay 12.6 percent interest compounded monthly, or at the Barlett Bank, which will pay interest of 11.5 percent compounded daily. (Assume 365 days in a year
) Which bank offers the higher effective annual rate?
A) Darlington National Bank
B) Barlett Bank
C) Both banks offer the same effective rate.
D) Cannot be determined from the information provided.
E) Workable only if the banks use the same compounding period.
A
Business
You might also like to view...
_________: New set of budgets a firm adds for the next period (with revisions) to replace the ones that have lapsed.
Fill in the blank(s) with the appropriate word(s).
Business
Which of the following is a history of your actions on Facebook?
A) News Feed B) Timeline C) Ticker D) Open Graph
Business